Question

janice invests a total of 8000 in two different accounts. the first account returns 5%, while the second account returns 8%. if the total interest earned after one year is 565, what principal did she invest in each account?​

Answer 1

"She invested $2500 in 5% account and $5500 in 8% account"

Explanation:

Let the amount invested in 5% account be "x"

So, the amount invested in 8% account would be "8000 - x"

Interest amount is the percentage multiplied by amount invested. So

Interest of 5% account = 5% of x = 0.05x

Interest of 8% account = 8 % of 8000 - x = 0.08(8000 - x)

Total interest is the sum of these 2 expressions that EQUATES to 565 (given). Let's solve for x:

`0.05x + 0.08(8000 - x) = 565\\0.05x+640-0.08x=565\\0.03x=75\\x=2500`

and thus,

"8000 - x" = 8000 - 2500 = 5500

Hence,

She invested $2500 in 5% account and $5500 in 8% account